Massey Stewart R 4

What Happened

• Stewart R. Massey, a director of Innodata Inc. (INOD), exercised stock options to acquire 10,000 shares at $7.24 per share (cost $72,400) on May 13, 2026. On the same day he sold 9,000 shares at a weighted average price of $88.02 and 1,000 shares at a weighted average price of $90.00, generating total gross proceeds of approximately $882,180. The filing indicates the sales were made for portfolio diversification.

Key Details

• Transaction date: May 13, 2026 (reported on Form 4 filed May 14, 2026). Filing appears timely.
• Option exercise: 10,000 shares acquired at $7.24 each (total $72,400). The related option was fully vested and exercisable as of Aug 2, 2021 (footnote F5).
• Open-market sales: 9,000 shares at weighted average $88.02 (F3) and 1,000 shares at weighted average $90.00 (F4); combined proceeds ≈ $882,180. Sales were for portfolio diversification (F2).
• Net proceeds before taxes/fees (simple subtraction): sales ≈ $882,180 minus exercise cost $72,400 ≈ $809,780.
• Ownership note: filing references 3,943 restricted stock units (RSUs) that will vest and convert to shares on the earlier of June 5, 2026 or the company’s 2026 annual meeting (F1). The filing excerpt here does not state a full post-transaction beneficial ownership total.
• Multiple-trade detail: sales were executed in multiple trades at prices shown as weighted averages; the reporting person offers to provide trade-level prices/quantities on request (F3, F4).

Context

• This appears to be an exercise of previously vested options followed by immediate open-market sales (i.e., cash realized from exercise and sale). The filing’s note that the sales were for “portfolio diversification” is a common, non-specific reason and is factual disclosure rather than an explanation of sentiment.